MSC Industrial Direct Co., Inc. (NYSE:MSM) Expected to Post Q3 2024 Earnings of $1.32 Per Share

MSC Industrial Direct Co., Inc. (NYSE:MSMFree Report) – Equities researchers at KeyCorp decreased their Q3 2024 earnings per share (EPS) estimates for MSC Industrial Direct in a research note issued to investors on Sunday, June 16th. KeyCorp analyst K. Newman now forecasts that the industrial products company will earn $1.32 per share for the quarter, down from their previous forecast of $1.66. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for MSC Industrial Direct’s current full-year earnings is $5.22 per share. KeyCorp also issued estimates for MSC Industrial Direct’s Q4 2024 earnings at $1.11 EPS, FY2024 earnings at $4.87 EPS, Q4 2025 earnings at $1.44 EPS and FY2025 earnings at $5.35 EPS.

MSM has been the topic of several other research reports. Loop Capital lowered MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research report on Monday. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Robert W. Baird dropped their price target on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Stephens reaffirmed an “overweight” rating and set a $110.00 price objective on shares of MSC Industrial Direct in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $93.00.

Get Our Latest Analysis on MSC Industrial Direct

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $78.80 on Wednesday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 14.15 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. MSC Industrial Direct has a 1 year low of $75.05 and a 1 year high of $105.77. The stock’s 50-day moving average is $88.72 and its two-hundred day moving average is $94.96.

MSC Industrial Direct (NYSE:MSMGet Free Report) last released its quarterly earnings data on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company had revenue of $935.30 million for the quarter, compared to analysts’ expectations of $946.55 million. During the same quarter last year, the company earned $1.45 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is presently 59.61%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MSM. Envestnet Asset Management Inc. lifted its position in shares of MSC Industrial Direct by 15.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 139,088 shares of the industrial products company’s stock valued at $13,651,000 after acquiring an additional 18,559 shares during the period. Invesco Ltd. boosted its position in MSC Industrial Direct by 39.9% during the third quarter. Invesco Ltd. now owns 462,756 shares of the industrial products company’s stock worth $45,420,000 after purchasing an additional 131,943 shares in the last quarter. Clearbridge Investments LLC grew its holdings in MSC Industrial Direct by 2.6% in the third quarter. Clearbridge Investments LLC now owns 490,418 shares of the industrial products company’s stock valued at $48,135,000 after purchasing an additional 12,400 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of MSC Industrial Direct by 30.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 55,737 shares of the industrial products company’s stock worth $5,471,000 after buying an additional 13,030 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of MSC Industrial Direct by 11.9% in the 3rd quarter. Northern Trust Corp now owns 488,187 shares of the industrial products company’s stock worth $47,916,000 after buying an additional 51,866 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

(Get Free Report)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

Further Reading

Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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